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CDFA Revolving Loan Fund Finance Update - September 10, 2019

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Revolving Loan Funds Update
September 10, 2019
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Revolving Loan Fund Finance Update

Features

U.S. Chamber of Commerce Endorses Resilience RLF Act of 2019
The U.S. Chamber of Commerce sent a letter to House Transportation Committee Chairman DeFazio and Ranking Member Graves signaling its support for H.R. 3779, the Resilience Revolving Loan Fund Act of 2019.

GoFundMe Organizers Plan to Start RLF for Local Businesses in Carbondale, IL
According to Carbondale Spring organizers Nick Smaligo and Clare Killman, the $45,000 used to purchase Fat Patties would be paid back to a revolving loan fund that will be used to fund other businesses in Carbondale that will adopt this ownership model.

St. Pete Beach, FL Plans on State RLF for Water Treatment
The city plans to borrow about $2 million from the state's Revolving Loan Fund Program, so it can undertake a $16.6 million sewer system upgrade, which will increase its sewer system capacity and end the three-year building moratorium.

Chautauqua County, NY IDA Approves RLF for Condominium Project
The Jamestown Post-Journal is reporting that the Chautauqua County Industrial Development Agency has approved a $450,000 Al Tech Revolving Loan Fund for a proposed condominium project in Mayville. The loan is being given to the project at 4% interest and will be paid back within 20 years.

New RLF Could Bring Investment to MN
The Waukesha County Center for Growth is on the verge of establishing the $2 million Generating Resources and Opportunities in Waukesha, or GROW, revolving loan fund. The center is finalizing an agreement with the Milwaukee Economic Development Corp., which will administer the fund.

Financing for Sewer Plant in John Day, OR Top $13M
The city of John Day hopes to line up about $13.4 million in total financing by next fall for construction of a new sewage treatment plant. Green identified five funding sources that include a combination of grants and loans from state and federal sources.

90K RLF Keeps OU's IC Running
The Ohio Development Services Agency Economic Development Revolving Loan Fund will allow the IC and LIGHTS to continue to offer community members one-on-one, hands-on product design and equipment training. The cost-free 3D design, scanning and printing training is open to the public.

EDA Loans $57K to Keep Convenience Store in Business
A neighborhood convenience store that boasts Brunswick's biggest burger will remain on its corner after the Brunswick and Glynn County Economic Development Authority voted to lend its owner $57,000 from its revolving loan fund. The owner, Rosby, will have 10 years to repay the loan at a 3 percent interest rate.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Fill In The Gaps with New Markets Tax Credits
Tuesday, September 17, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, learn from expert speakers as they discuss their plans for the recent allocation of New Markets Tax Credits, past projects, and best practices.

Headlines

Murray County Endorses Broadband Proposal
Independent | Sep. 4 | Revolving Loan Funds (RLFs)

NM Forgoes Green Bonds on Energy Efficiency Projects
U.S. News | Sep. 3 | Bond Finance | Energy Finance | Green Finance | Revolving Loan Funds (RLFs)

AK's Mariculture Growth Lead By Seaweed and Shellfish
The Cordova Times | Sep. 2 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Shellfish and Seaweed Farms are a Growing Industry in AK
Anchorage Daily News | Aug. 30 | Agriculture Finance | Energy Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

DE Looking to Use State Funds for Drinking Water Upgrades in Low-Income Communities
Delaware Public Media | Aug. 30 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

HRDC RLF Funds 31 Active Loans
The Bemidji Pioneer | Aug. 30 | Revolving Loan Funds (RLFs)

OH Rural Business Growth Fund and Local RLF Support Industrial Expansion
KnoxPages | Aug. 29 | Revolving Loan Funds (RLFs)

Ashland Co-op Offers Microloans
Ashland Daily Press | Aug. 23 | Revolving Loan Funds (RLFs)

MAPA Used RLF for Homes in Blair, NE
Pilot Tribune & Enterprise | Aug. 23 | Revolving Loan Funds (RLFs)

Farmers Co-op of Hanska Receives RLF
The Journal | Aug. 23 | Revolving Loan Funds (RLFs)

NJ Awards Burlington City $6.5M in Loans for Water System Work
Burlington County Times | Aug. 22 | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance

Accepting Applications: Hudson Valley Farm and Food Funding Accelerator Program
Hudson Valley 360 | Aug. 22 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Ground Broken for $20M Manufacturing Facility in Little Falls, MN
Morrison County Record | Aug. 19 | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF)

PR Restructures 200 Delinquent State RLFs
Water & Wastes Digest | Aug. 15 | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

Frontenac, MS Approves Seeking Funds for Water Project
Morning Sun | Aug. 13 | Revolving Loan Funds (RLFs) | Water Finance



The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
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  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
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  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
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  • McCarter & English, LLP
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  • MuniCap, Inc.
  • NW Financial Group, LLC
  • Petros PACE Finance
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  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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